Starting your own business or franchise an existing one?

@beamer88 (4259)
Philippines
February 4, 2011 11:51am CST
A lot of us contemplate on going into business. If you have the means, would you rather start one of your own or secure a franchise of an existing one?
1 person likes this
6 responses
4 Feb 11
Both options are great ways of becoming your own boss. With the Franchise option alot of the hard work has been done for you as the brand will probably be well known and you should get a customer base straight away. Starting your own business from scratch can be hard work as there are lots of things to do before you get a customer base.
@beamer88 (4259)
• Philippines
5 Feb 11
You're right, there are tons of work to be done when you're starting your own business. But do you think you'd feel a different kind of fulfillment knowing you started your business from scratch than just being handed a business?
5 Feb 11
Your right knowning you have done all the hard work yourself is a great thing. It gives you a buzz when you think about what you have acheived when you are doing well.
• United States
4 Feb 11
That would actually be great, I always thought about opening a daycare facility, but unfortunately it takes time and money in order to establish a business and I don't have either of it. But a friend of mine has already opened two of them and she gets a good amount of profit. I hope that one day I could establish a business of my own so that I could be my own boss and hopefully it'll be a daycare.
@beamer88 (4259)
• Philippines
5 Feb 11
I'm sure you could. And that's a great business :) Although it's a bit scary for me when the type of business I'm in deals with kids.
• United States
7 Feb 11
It is a bit scary, but I love children and I think I would really enjoy being in that type of business.
@mensab (4200)
• Philippines
4 Feb 11
this is a question that i am really trying to figure out. i believe i can go and start a business. but i am confused as to starting a totally new one or franchising an established business. i have asked several of my friends who have a business. they told me that franchising is a conventional way of starting a business. it is one way of grasping the business culture and ropes of managing a business. i think i will have one day a franchise.
@beamer88 (4259)
• Philippines
5 Feb 11
I guess if we're after profits with less work, franchising is really the option. But sometimes I feel something's lacking since I can't actually call a franchised brand my own.
@zweeb82 (5653)
• Malaysia
5 Feb 11
Both are wonderful options, so one might think. But I'd choose the third - partnering with a multi-billion dollar company with a start up cost of virtually nothing. I'm in such a place now. PM me should you want to know more.
• Philippines
7 Feb 11
I would like to secure a franchise especially in businesses involving foods. For those who have little capital, it would be an advantage to them. Other than food business, I would like to have something of my own.
@beamer88 (4259)
• Philippines
7 Feb 11
I think that's true. You can have a small food franchise for even less than $500. (Around 20,000 pesos)
• United States
6 Feb 11
I would love to start a business, where I could just make money for doing what I love!!! If I did start a business it would be selling miniature war game pieces! That would be one of my dreams!
@beamer88 (4259)
• Philippines
6 Feb 11
A hobby and a business at the same time, huh? For me, that's the best combination.